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Prices Paid: Buying & Leasing Experiences Acura TSX Lease Questions
760 messages, Last post on Jul 22, 2008 at 6:36 AM
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I am trying to work out what I should be aiming for on a new TSX automatic without navigation. The current Acura deal is structured as follows (as far as I can tell): Base $28,190.00 Destination Charge $715.00 Total MRSP $28,905.00 Residual (36 months / 30,000miles) $16,764.90 Capitalized Cost $28,905.00 Capitalized Cost Reduction $1,105.00 Dealer Contribution (to reduce capitalized cost) $1,374.98 Net Capitalized Cost $26,425.02 Depreciation $9,660.12 Security Deposit $0.00 Upfront Acquisition Fee $595.00 Money Factor 0.00071 (1.70%) Lease Payment $268.34 Lease Interest $30.66 Total Monthly Lease $299.00 Due at signing $1,999.00 ($299 + $595 + $1,105) Remaining Payments $10,465.05 Total Payable $12,464.05 I need a plan with perhaps 13,000 per year so would I do better to recalc a residual based on 15000 per year or just to prepay 9000 miles at $0.075 (?) per mile ($675). I have a couple of dealers that state they will sell the car at invoice, however so far they have refused to email me the lease worksheet I have been requesting so that I can do a lease versus buy comparison. My question is this, if they are willing to sell the car to me at invoice ($26,630.23) if I buy it, then if I decide to lease it, should I not be able to also get the dealer contribution that is within the current Acura special leasing deal? I want zero down but I do not mind rolling fees into the first payment (exc tax that should be spread). So, given that our sales tax is 7.5%, dealer is quoting $150 doc fee, and we have %65 title plus $15 license transfer fee then is the following reasonable for a restructured lease deal target? Base $28,190.00 Destination Charge $715.00 Total MRSP $28,905.00 Residual (36 months / 30,000miles) $16,764.00 Sales Price $26,630.23 Tax 7.5% $1,997.27 Capitalized Cost $28,627.50 Capitalized Cost Reduction $0 Dealer Contribution? $1,374.98 Pre-paid Miles -$675.00 Net Capitalized Cost $27,927.52 Depreciation $11,163.52 Money Factor 0.00071 (1.70%) Lease Payment $310.10 Lease Interest $32.23 Total Monthly Lease $342.33 Security Deposit $0.00 Upfront Acquisition Fee $595.00 Title $65.00 License Transfer $15.00 Doc Fee $150.00 Due at signing $1,167.33 Remaining Payments $11,981.40 Total Payable $13,148.72 Is this a reasonable target to go for or is my calculation totally off here? Carman's help greatly appreciated. |
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Replying to: mstylady (Apr 02, 2008 9:48 am) Be careful with putting money down on a car that you are leasing. There is no benefit to reducing the cap cost this way (except a lower monthly fee) since you are not keeping the car. Many dealers play games this way, they give you great numbers but don't tell you the whole story. When you put money down for a lease, you never recover it at the end of the term and since you will be giving the car back then you have wasted this amount. Also, and this is a sad but true fact...If you have an accident where the car is totaled, or the car is stolen and unrecovered, your insurance company will pay Acura the remaining outstanding balance...HOWEVER, you will not recover ANYTHING that you have put down before the lease was signed including A.) Money down B.) Taxes paid upfront or C.) Aquisition/Documentation Fee's. Now dealers can include Tax and Bank fee into your monthly rate, but it gets steep, however you are then seeing the true numbers. If something is to happen to your car and you did not pay all that money upfront, then your liability ends with the amount that you have paid up to that time (ie. car gets totaled after 3 months of ownership...total Taxes paid upto that point ~$150, the $150 is all you loose {since you paid nothing further down}, your insurance will cover all taxes and costs remaining.) Now if you had paid the tax upfront (~1000 +/- and lets say $1,000 for Cap Cost reduction, you would loose $2,000 in case of a loss of the vehicle. I made a consciouse choice to pay ONLY 1st months payment (Mandatory to drive out for Acura) and the Bank fee (Only a couple of hundred dollars). No money down, and Taxes included in my monthly payment. I have already discussed the price I pay per month in detail so feel free to look at my earlier posts. The trick is to lower the cost of the car to within $500 or less from the Invoice price. Or even better, AT invoice price if your dealer really needs to move his stock. Also, please make sure you are leasing ONLY through Honda and not through a third party like "HAN" since they carry a disposition fee at lease end, and are very tough on returning vehicles. Best of luck.
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Replying to: mstylady (Apr 02, 2008 9:48 am)
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Replying to: dshkrab (Apr 03, 2008 9:59 am)  $337/mo. I got the vehicle invoice and lease buy out at end of term is roughly $15K.
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Replying to: gforce11 (Apr 03, 2008 10:28 am)
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Replying to: jaxs1 (Apr 03, 2008 12:37 pm) |
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This is the offer I have gotten: I am getting this car in MD. 08 TSX w/nav---12k year Down Payment: $3,000 (Trade-in) Month: $320 Total Payments: $14,200 (term of lease) (Includes all taxes and fees) Any input would be helpful as I am in college and this is my first lease....
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Replying to: tinoman (Apr 03, 2008 7:04 pm) |
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Replying to: mstylady (Apr 03, 2008 12:20 pm) I am glad if I helped, and that you decided on a course of action. The car does not dissapoint, I am going on 1 month here and loving it. As far as putting $2k down, thats your choice, I personally would say, put that into a high yield savings account (ie. ING Direct, CapitalOne, HSBC, etc...~3 to 4% APY), that way it combats inflation, and us it to cover several months of payment without the money loosing any value, but maybe that is the investment banker in me screaming out (that is what I did)....otherwise, enjoy the car and best of luck!! |
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2008 Auto w nav $335/month $1435 down (total cost) 10k mileage lease factor .00071 cap cost $28633 add to capcst $953 cap reduction $1100 adj cap cost $28868 any deal killers here? lease institution listed as AHL. What is that?
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